Your Guide to Buying Luxury Real Estate in Las VegasNews Home
Las Vegas is now a destination for many to look at for a new home. From 20 years ago, what was once simply a desert town has evolved from a sordid gaming town into the premier location for not only Las Vegas luxury real estate, but for A-list entertainers, the world’s classiest hotels and upscale restaurants, and a slew of professional sports teams, like the Vegas Golden Knights and NFL team, Raiders, that are giving residents a group to rally behind.
This growth came at a price though. Las Vegas experienced one of the most hard-hit housing markets in the post-bubble recession. Home prices tumbled with a foreclosure rate that topped the nation. But slowly recovering over the past few years, the market is on the rise. Read more about how you can navigate this new Las Vegas housing market.
What to Look for in a Las Vegas Luxury Home
Besides knowing what the requirements to buy a house in Las Vegas are, one of the other things that really affect living standards in Las Vegas luxury real estate is the infrastructure that makes the place accessible. But some neighborhoods are more accessible than others. For anyone who doesn’t drive, and even those that do, you need to know that the infrastructure is in place for you to get around efficiently. So make sure you research this.
Study the Pricing Trends in Las Vegas
If you are looking into buying a house in Las Vegas 2018, prices of luxury homes in Las Vegas go up and down, so you should pinpoint whereabouts in Las Vegas you want to live and then study the pricing trends in that particular area. It can be done, but it takes a little effort and attention. When you know that prices are down, it means there’s a buyer’s market and that’s when you pounce for the best value.
Consider Your Proximity to All the Attractions
For many people, the whole reason for moving to Las Vegas is to be near the attractions, fun, and games that Vegas is known for. If you’re too far out of town in your luxury home, you might be left disappointed. So if this is something that matters to you, be sure to consider that proximity.
Watch Out for New Developments Nearby
Las Vegas luxury real estate is growing right now, meaning there are luxury homes and all kinds of other homes being built all the time. This is good for you as a buyer because the supply remains relatively high. But there are downsides if you buy a place that’s located next to a construction site. Be sure to find out what’s going on in the area before buying.
Strong Resale Value
If you are buying a house in Las Vegas with bad credit, you can still look. Always look for strong resale value when buying a luxury home. That way, if you ever did want to sell it and move on, you will hopefully make your money back and more. Think about the neighborhood, how it’s doing and where it will be in 10 years time. These things impact resale value hugely.
What to Ask Your Real Estate Agent
Ask About the Neighbourhood
When you’re stepping into a brand new neighborhood for the first time, you probably won’t know it very well. This is something you’re real estate agent can help you with. Ask as many specific questions as you can about it and then judge it based on what you learn. They’ll be able to offer the insight you’re missing.
Find Out Why the Seller is Selling
Probing into why the seller is choosing to sell their Las Vegas luxury home right now is always a good idea. You might find out things that put you off buying the home or buying in the area. It’s best to be aware of these things now rather than later.
See if Can Talk to the Neighbors
If you can, you should ask if the real estate agent is able to introduce you to some neighbors. They will give you a good honest appraisal of what it’s like to live in that area, and they won’t deliver a sales pitch while they’re at it.
Ready to find Your Luxury Home?
It is time to Live at a Higher Level. Make MacDonald Highlands your next home. With a community country club and that has all the amenities, this community is ready to welcome you! Check all of our listings to find your next Las Vegas luxury home.